As of March 31, 2015, the occupancy rate was 93.7%, a 305 basis
point increase compared to the first quarter of 2014 (1Q14).
Additionally, considering the signed letters of intent, occupancy for
1Q15 was 94.0%.

Annualized average leasing rate per square foot at year-end was
US$4.87, a 13 dollar cent increase compared to 1Q14.

Terrafina reported a total of 28.2 million square feet (msf) of
Gross Leasable Area (GLA) comprised of 196 properties and 208 tenants
in 1Q15.

Total developments for 1Q15 included 489,000 square-feet of GLA,
which are expected to contribute US$2.1 million to Net Operating
Income (NOI) for the 2016 period. The return rate for the expansions
made during 1Q15 was 12.5%.

The sale of a portfolio comprised of 3.7 msf of land reserves and
industrial space located in the northeast region for US$101 million
took place during 1Q15.

1Q15 NOI was US$31.9. million, a 4.4% or US$1.4 million increase
compared to 1Q14. Moreover, implied cap rate was 8.2%, considering the
average share price for 1Q15 of US$2.11 (Ps. 31.52) and 2015 expected
NOI of US$125 million. 2015 NOI guidance was revised to US$125 million
as a result of the recent asset sale.

1Q15AFFO margin was 53.3%, a 1,085 basis point
increase compared to 1Q14.

1Q15 distributions totaled US$19.9 million. As a result of 1Q15
operations, Terrafina will pay Ps.0.4880 per CBFI (US$0.0327 per CBFI)
as distributions corresponding to the period from January 1 to March
31, 2015.

The annualized distribution of 1Q15 was US$0.1309; considering the
average closing share price for the quarter of US$2.11 (Ps.31.52),
Terrafina’s dividend yield for the quarter was 6.2%.